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Economy & Business - November 2020

VENEZUELA: Battle over state assets continues

Katherine Polk Failla, a judge in the US Southern District Court of New York, ruled in October on an ongoing case relating to bonds issued this year by Venezuela’s state-owned oil company Pdvsa, declaring that the bonds in question are “valid and enforceable”. This came in response to a lawsuit filed by Venezuela’s political opposition, which claimed that the bonds were fraudulent, as they were issued by the de facto government led by Nicolás Maduro without the approval of the opposition-controlled national assembly.

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